GREAT-WEST SMART TRACK®

II – 5 YEAR VARIABLE ANNUITY B-share variable annuity 

FOR FINANCIAL ADVISOR USE ONLY. Not for public distribution.

More income | Lower cost | Better protection

Advisor Brochure

FOR FINANCIAL ADVISOR USE ONLY. Not for public distribution. 1

Smart Track® II – 5 Year Variable AnnuityThe Smart Track II – 5 Year Variable Annuity (Smart Track II) and its dual strategy structure is designed to provide your clients’ retirement with more income, at lower costs, with better protection.1 The following highlights Smart Track II and its available living benefit options.

1 Guarantee is subject to the claims-paying ability of Great-West Life & Annuity Insurance Company or in New York, Great-West Life & Annuity Insurance Company of New York. More income refers to the Great-West Secure Income Max GLWB rider and its 1% distribution rate increase if the client waits 5 years to begin taking lifetime withdrawals for an additional fee of 1.20%. Lower costs refers to the dual strategy structure of Great-West Smart Track variable annuities allowing clients to only pay a rider fee on assets allocated to the Income Strategy. Better protection refers to clients having the ability to choose single or joint distributions when they begin receiving lifetime income payments and not at the point of sale. See prospectus for full details.

2 Applies to Great-West Secure Income Foundation, Great-West Secure Income Plus and Great-West Secure Income Max only. Additional GLWB riders may be available. Please see the prospectus for full details. Income increase opportunities are calculated by Great-West Financial on the contract’s ratchet date and can occur automatically is Max GAW is elected. Otherwise, eligible increases may be elected at any time.

3 Great-West will check for higher income every year after you cross into a new age band.

4 Beneficiaries receive the greater of Account value or sum of all contributions less withdrawals.

5 If joint withdrawals are elected, the joint distribution percentage will be based on the younger person’s age. The applicable withdrawal percentages are disclosed in the Rate Sheet Supplement in effect at the time the contract is purchased.

Tax-advantaged growth potential

Flexibility to choose from 90+top-tier investments

Guaranteed income for life1

Potential for increasingretirement income

InvestmentStrategy

IncomeStrategy

More income• Competitive withdrawal rates

• Three ways to increase income after withdrawals start:

1. Annual step-ups2

2. Additional contributions

3. Age-band income resets2,3

Lower cost • Contract M&E: 1.20%

• Five year structure, shorter surrender period

• You only pay the rider fee on assets allocated to the Income Strategy

Better protection • Return-of-premium death benefit4

• Single and joint riders for the same cost5

• Choose single or joint when income starts — not at the point of sale

• Over 90 funds available in the Investment Strategy from leading money managers

• Four asset allocation funds available in the Income Strategy to provide diversification

2FOR FINANCIAL ADVISOR USE ONLY. Not for public distribution.

Product Summary

6 Net expenses are shown. The net expense ratio is less applicable fee waivers or expense reimbursements the investment advisor and/or administrator may have agree upon, either voluntarily or by contractual agreement; the gross expense ratio is not. Fee waivers and reimbursements may be modified or terminated at any time. Additional information can be found in the fund’s prospectus and/or other disclosure documents regarding effective dates and/or if waivers of reimbursements are voluntary or by contractual agreement. Absent of waivers or reimbursements, the fund’s operating expenses would have been higher.

7 GWFS Equities, Inc., or one or more of its affiliates, may receive a fee from the investment option provider for providing certain recordkeeping, distribution and administrative services.

8 As of May 1, 2016

9 GLWB investment options are referred to as Covered Fund(s) in the Smart Track Advisor VA prospectus.

10 GLWB fee determined by the value of the Benefit Base annually. The fee is deducted quarterly, and it may increase at any time up to a maximum of 1.50% or 2.25% for Great-West Secure Income Plus and Great-West Secure Income Max within 30 days of notice. The Guaranteed Benefit Fee will be assessed as soon as money is transferred into the a Covered Fund. The Guarantee Benefit Fee is paid through the sale of units in a Covered Fund, which reduces the annuity account value.

Standard contract provisions

Contract type B-share variable annuity

Withdrawal charges 5 years: 7%, 7%, 6%, 5%, 4%

Death benefit Return the greater of Annuity Account Value or sum of contributions less the impact of withdrawals

M&E charge 1.20%

Maximum issue age 80

Minimum initial premium $10,000

Minimum additional contributions $500, or $100 if automatic bank draft plan is established

Maximum total contributions $1 million (without prior home office approval)

Annual free withdrawal 10% of total contributions

Investment Strategy

Investment options More than 90

Portfolio operating expenses Range from 0.46 to 2.15% of assets; average fund expense of 1.02%6,7,8

Diversification Seven asset categories and more than 20 fund managers

Income Strategy

Guarantee Lifetime Withdrawal Benefit (GLWB) options and fees

Great-West Secure Income Foundation (0.90%)Great-West Secure Income Plus (1.30%)Great-West Secure Income Max (1.20%)

GLWB investment options and operating expenses6,7,8,9,10

Great-West SecureFoundation Balanced Fund (0.88%) Great-West Moderate Profile I Fund Initial (1.10%) Great-West Moderate Conservative Profile I Fund Initial (1.03%) Great-West Conservative Profile I Fund Initial (0.97%)

FOR FINANCIAL ADVISOR USE ONLY. Not for public distribution. 3

Great-West Secure Income living benefits

Guaranteed Annual Withdrawals

Great-West Secure Income Foundation Great-West Secure Income Max (For contributions less than 5 years)

Great-West Secure Income Max (With 1% Distribution Credit — defer income for 5 years to receive a higher distribution rate)

AGESINGLE

DISTRIBUTION RATES

JOINT DISTRIBUTION

RATES

59½ 4.0% 3.5%

65 5.0% 4.5%

70 5.5% 5.0%

80 6.5% 6.0%

AGESINGLE

DISTRIBUTION RATES

JOINT DISTRIBUTION

RATES

59½ 5.0% 4.5%

65 6.0% 5.5%

70 6.5% 6.0%

80 7.5% 7.0%

Great-West Secure Income Foundation offers guaranteed lifetime retirement income and growth potential at a reasonable cost. Consider this if you are looking to take income now.

Great-West Secure Income Plus offers guaranteed Benefit Base growth before you start distributions through a 5% accumulation credit and lifetime retirement income. Consider this if you are planning to take income soon.11

Great-West Secure Income Max is designed to provide maximum guaranteed lifetime retirement income by offering a 1% credit to your distribution percentage if you wait five years to start income. Consider this if you are planning to take income in five years or more.12

INCOME NOW

INCOME SOON

INCOME LATER

AGESINGLE

DISTRIBUTION RATES

JOINT DISTRIBUTION

RATES

59½ 4.0% 3.5%

65 5.0% 4.5%

80 6.0% 5.5%

Great-West Secure Income Plus

11 Benefit Base may be decreased if excess withdrawals are taken or when it is beneficial to lock in a higher GAW if a reset is elected.

12 Subsequent contributions have their own 5-year waiting period. Distribution percentage refers to Guaranteed Annual Withdrawal percentage in the Smart Track II – 5 Year prospectus. Distribution percentage is based on investor’s age at first withdrawal.

FOR FINANCIAL ADVISOR USE ONLY. Not for public distribution. 4

1. Annual step-ups: Lock in investment gains on the ratchet date if the Covered Fund Value is greater than the Benefit Base before or during the withdrawal phase.

2. Additional contributions and transfers to the Income Strategy will increase the Benefit Base dollar-for-dollar.

3. Age-band income resets: Provides clients the opportunity to increase income when they cross into a new age band when the Covered Fund Value and the distribution percentage based on their current age will provide a higher level of income.

TAKING INCOME AT AGE

INCOME STRATEGY VALUE

BENEFIT BASE

DISTRIBUTION PERCENTAGE 7

INCOME AMOUNT

68 $100,000 $100,000 5% $5,000

70 $95,000 $95,000 x 5.5% = $5,225

$95,000 5.5% $5,225

Great-West Financial will check for higher income every year after your client crosses into a new age band.

And, because fees are paid as a percentage of Benefit Base, your client can potentially reduce their fees.13,14

13 Income increases via annual step-ups and age-band income resets are calculated automatically on the ratchet date. Income increases will go into effect if your clients elect to receive their max GAW.

14 Installments will not change unless requested by the Owner.

Age-band income resets

Automatic resets may occur to lock in a higher Guaranteed Annual Withdrawal, even if the account value has fallen. Resets may occur when crossing the age bands of 65, 70 and 80, and any year thereafter. Resets will only take place if your income will increase. The example below illustrates an age-band income reset with Great-West Secure Income Foundation GLWB rider.

Three ways to increase income during the distribution phase

5 FOR FINANCIAL ADVISOR USE ONLY. Not for public distribution.

Investment portfolios by asset categorySmart Track II offers over 90 portfolios from among some of the leading portfolio managers. The

portfolios are spread across nine asset categories, so your planning can include a wide variety

of investment combinations that allow you to shift focus as needed to match your stage of life.

DATA AS OF 9/30/2016Investment Strategy

Large-Cap Gross/Net Exp. Ratio*

American Century VP Value II 1.12/0.97Deutsche Capital Growth VIP-B 0.76/0.76Goldman Sachs VIT US Eq Insights Svc 0.96/0.85Great-West MFS International Gr Init 1.20/1.20 Great-West Multi-Manager Lg Cp Gr Init 1.00/1.00Great-West MFS International Value Init 1.10/1.10Great-West Putnam Equity Income Init 1.10/1.10Invesco VI Growth and Income II 1.10/1.04MFS VIT II Blended Rsrch Core Eq Svc 0.70/0.70Neuberger Berman AMT Social Responsive S 1.23/1.17Putnam VT Growth & Income IB 0.83/0.83Putnam VT Growth Opportunities IB 1.16/1.07Putnam VT Investors IB 0.94/0.94Putnam VT Research IB 1.06/1.06T. Rowe Price Blue Chip Growth Port II 1.10/1.10

Mid-Cap Gross/Net Exp. Ratio*

American Century VP Mid Cap Value II 1.16/1.02Great-West Ariel Mid Cap Value Init 1.07/1.07Great-West Goldman Sachs Md Cp Val Init 1.25/1.25Great-West T. Rowe Price Mid Cp Gr Init 1.03/1.03Janus Aspen Enterprise Svc 0.99/0.99

JPMorgan Insurance Tr Intrepid MidCap 2 1.26/1.15

Small-Cap Gross/Net Exp. Ratio*

ClearBridge Variable Small Cap Growth II 1.07/1.07Delaware VIP Small Cap Value Series Svc 1.10/1.05Great-West Invesco Small Cap Value Init 1.40/1.40Great-West Loomis Sayles Sm Cp Val Init 1.11/1.11Great-West Multi-Manager Sm Cp Gr Init 1.25/1.25Invesco VI Small Cap Equity II 1.20/1.20Lord Abbett Series Developing Growth VC 1.56/0.90Oppenheimer Main Street Small Cap VA Svc 1.05/1.05Putnam VT Capital Opportunities IB 1.14/1.14Putnam VT Small Cap Value IB 1.27/1.27

International Gross/Net Exp. Ratio*

ALPS/Red Rocks Listed Private Eq III 6.43/1.97American Funds IS® International 4 1.04/1.04American Funds IS® New World 4 1.29/1.29Delaware VIP Emerging Markets Svc 1.67/1.60Delaware VIP Intl Value Equity Ser Svc 1.32/1.27Deutsche Global Small Cap VIP-B 1.41/1.36Invesco VI International Growth II 1.18/1.17Putnam VT Global Equity IB 1.11/1.11Putnam VT International Equity IB 1.09/1.09Putnam VT International Growth IB 1.54/1.45Putnam VT International Value IB 1.13/1.13

Bond/Cash Alternatives Gross/Net Exp.

Ratio*

American Century VP Inflation Prot II 0.72/0.72BlackRock High Yield V.I. III 1.07/0.95Eaton Vance VT Floating-Rate Inc Init 1.18/1.18Goldman Sachs VIT Strategic Income Adv 2.13/1.27Great-West Federated Bond Init 0.70/0.70Great-West Loomis Sayles Bond Init 0.90/0.90Great-West Putnam High Yield Bond Init 1.10/1.10Great-West Short Duration Bond Init 0.60/0.60Great-West Templeton Global Bond Init 1.30/1.30Great-West US Govt Mortg Sec Init 0.60/0.60Janus Aspen Flexible Bond Svc 0.88/0.87PIMCO VIT Long-Term US Govt Adv 0.77/0.73PIMCO VIT Low Duration Adv 0.76/0.75PIMCO VIT Real Return Adv 0.88/0.75PIMCO VIT Short-Term Adv 0.72/0.70PIMCO VIT Total Return Adv 0.76/0.75Putnam VT American Government Inc IB 0.87/0.87Putnam VT Income IB 0.81/0.81

Specialty Gross/Net Exp. Ratio*

Delaware VIP REIT Svc 1.14/1.09Goldman Sachs VIT Multi-Strat Alts Adv 3.39/1.45Invesco VI Global Real Estate II 1.26/1.26Ivy VIP Energy 1.20/1.20MFS VIT II Technology Svc 1.16/1.16PIMCO VIT CommodityRealReturn® Strat Adv 1.27/0.99T. Rowe Price Health Sciences Port II 1.20/1.20VanEck VIP Global Hard Assets S 1.31/1.31

Asset Allocation Gross/Net Exp. Ratio*

BlackRock Global Allocation V.I. III 1.12/0.99Franklin Income VIP 4 0.81/0.81Great-West Aggressive Profile I Init 1.32/1.32Great-West Conservative Profile I Init 1.06/0.98Great-West Lifetime 2015 T 0.90/0.88Great-West Lifetime 2020 T 0.92/0.90Great-West Lifetime 2025 T 0.92/0.91Great-West Lifetime 2030 T 0.95/0.94Great-West Lifetime 2035 T 0.94/0.93Great-West Lifetime 2045 T 0.96/0.95Great-West Lifetime 2040 T 0.97/0.96Great-West Lifetime 2050 T 0.97/0.96Great-West Lifetime 2055 T 0.98/0.97Great-West Moderate Profile I Init 1.16/1.10Great-West Moderately Agg Prfl I Init 1.22/1.19Great-West Moderately Cnsrv Prfl I Init 1.10/1.02Janus Aspen Balanced Svc 0.89/0.89Putnam VT Absolute Return 500 IB 1.61/1.17Putnam VT Global Asset Allocation IB 1.12/1.12

6FOR FINANCIAL ADVISOR USE ONLY. Not for public distribution.

* The net expense ratio is less applicable fee waivers or expense reimbursements the investment advisor and/or administrator may have agreed upon, either voluntarily or by contractual agreement; the gross expense ratio is not. Fee waivers and reimbursements may be modified or terminated at any time. Additional information can be found in the fund's prospectus and/or other disclosure documents regarding effective dates and/or if waivers of reimbursements are voluntary or by contractual agreement. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.While some of the funds offered through variable annuities have similar names and investment objectives and/or may be modeled after publicly traded mutual funds, they are different from the publicly traded funds.S&P 500®, S&P MidCap 400® and S&P Small Cap 600® are registered trademarks of Standard & Poor’s Financial Services LLC and have been licensed for use by Great-West Life & Annuity Insurance Company. The fund(s) are not sponsored, endorsed, sold or promoted by Standard & Poor’s, and Standard & Poor’s makes no representation regarding the advisability of investing in the fund.

A trusted providerAt Great-West Financial®, we partner with investment professionals nationwide — and their clients — to help create the best path forward with innovative strategies, solutions and services for investment, insurance and retirement.

We have a history of unwavering commitment, even in challenging economic climates. In fact, the opinions of respected rating agencies validate the financial strength of our companies and our abilities to meet ongoing obligations to policyholders.

FINANCIAL RATINGS*GWL&A

AA AAStandard & Poor’s Ratings Services Financial strength: Very strong (second highest of nine categories)

Aa3 Aa3 Moody’s Investors ServiceFinancial strength: Excellent (second highest of nine categories)

AA AA Fitch RatingsFinancial strength: Very strong (second highest of nine categories)

A+ A+ A.M. Best Company, Inc.Financial strength: Superior (highest of 10 categories)

* These are current ratings for our primary insurance companies: Great-West Life & Annuity Insurance Company and Great-West Life & Annuity Insurance Company of New York. These ratings are subject to change. These ratings do not pertain to the investment performance of the underlying fund, other insurance affiliates or subsidiaries, or noninsurance affiliates or subsidiaries of the company.

GWL&A of NY

Index Gross/Net Exp. Ratio*

ALPS/Alerian Energy Infrastructure III 1.35/1.30

Great-West Bond Index Init 0.50/0.50

Great-West International Index Init 0.70/0.70

Great-West Real Estate Index Initial 0.70/0.70

Great-West S&P 500® Index Init 0.60/0.60Great-West S&P Mid Cap 400® Index Init 0.60/0.60Great-West S&P SmallCap 600® Index Init 0.60/0.60Great-West Stock Index Initial 0.60/0.60

Money Market Gross/Net Exp. Ratio*

Great-West Government Money Market 0.46/0.46

Income Strategy Gross/Net Exp. Ratio*

Great-West Conservative Profile I Init 1.06/0.98Great-West Moderate Profile I Init 1.16/1.10Great-West Moderately Cnsrv Prfl I Init 1.10/1.02Great-West SecureFoundation® Bal L 0.91/0.88

FOR FINANCIAL ADVISOR USE ONLY. Not for public distribution.

Before purchasing a variable annuity, you should carefully read the prospectus, which contains the annuity’s investment objectives, risks, charges, expenses, and other information associated with the annuity and its investment options. You may obtain a prospectus for the annuity and its underlying funds by calling 877-723-8723. Great-West Life & Annuity Insurance Company and Great-West Life & Annuity Insurance Company of New York do not offer or provide investment, fiduciary, financial, legal or tax advice, or act in a fiduciary capacity, for any client unless explicitly described in writing. Please consult with your investment advisor, attorney and/or tax advisor as needed.

Unless otherwise noted: NOT FDIC, NCUA/NCUSIF INSURED | NOT A DEPOSIT | NOT GUARANTEED BY ANY BANK OR CREDIT UNION | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | FUNDS MAY LOSE VALUE | NOT A CONDITION OF ANY BANKING OR CREDIT UNION ACTIVITY

GWFS Equities, Inc., or one or more of its affiliates, may receive a fee from the investment option provider for providing certain recordkeeping, distribution and administrative services.

The principal underwriter is GWFS Equities, Inc., Member FINRA/SIPC and wholly owned subsidiary of Great-West Life & Annuity Insurance Company.

Variable annuities are long-term investments and may not be suitable for all investors. Earnings are taxable as ordinary income when distributed and may be subject to a 10% additional tax if withdrawn before age 59½. An investment in a variable annuity is subject to fluctuating values of the underlying investment options, and it entails risk, including the possible loss of principal. A withdrawal charge may also apply.

Great-West Financial® refers to products and services provided by Great-West Life & Annuity Insurance Company (GWL&A), Corporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance Company of New York (GWL&A of NY), Home Office: NY, NY; and their subsidiaries and affiliates. The trademarks, logos, service marks and design elements used are owned by GWL&A.

Interstate Compact contract form numbers ICC15-J888 Series (Individual Flexible Premium Variable Annuity) ICC16-GLWB-SIF, ICC16-GLWB-SIP, ICC16-GLWB-SIM, ICC16-GLWB-T-Note (Guaranteed Lifetime Withdrawal Benefit Riders) are issued by GWL&A. GWL&A is not licensed to do business in New York. In New York, contract form numbers J888-NY (Individual Flexible Premium Variable Annuities), GLWBny, GLWB-SIFny, GLWB-SIPny, GLWB-SIM2ny, GLWB-T-Note-ny (Guaranteed Lifetime Withdrawal Benefit Riders) are issued by GWL&A of NY. Contracts may not be available in all states. Any guarantees are based on the claims-paying ability of the issuing insurance company.

©2017 Great-West Life & Annuity Insurance Company. All rights reserved. (1/2017) B1010AB AM80456-1116